Arab Today, arab today asia stock markets rally after wall st gains us jobs eyed
Last Updated : GMT 12:07:55
Arab Today, arab today
Arab Today, arab today

Asia stock markets rally after Wall St gains, US jobs eyed

Arab Today, arab today

Arab Today, arab today Asia stock markets rally after Wall St gains, US jobs eyed

Tokyo was up 0.2 percent by the break, while Hong Kong added 0.7%
Hong Kong - AFP

Asian stock markets ended the week on a high Friday, tracking a strong lead from New York, while optimism about a US jobs report later in the day pushed the dollar up against the yen and euro.

The upbeat outlook was also evident in oil markets, where prices sat around the $50 mark as OPEC's refusal to cap output was offset by a fall in US stockpiles.

With the start of June proving to be hard going, the focus is on Friday's non-farm payrolls report from the Labor Department, which helps the Federal Reserve decide when to lift interest rates.

Expectations are high for a June or July hike after bank chair Janet Yellen last Friday said such a move could be justified "in the coming months", citing continued US economic growth and a strengthening labour market.

US investors provided a perfect platform for their Asian counterparts with the S&P 500 ending at a seven-month high, with help from a rally in oil prices.

Tokyo ended up 0.5 percent and Shanghai also closed 0.5 percent higher, while Sydney gained 0.6 percent. In afternoon trade Hong Kong added 0.4 percent while Singapore tacked on 0.4 percent.

"Investors are taking heart that US stocks are at such high levels, and that should lead to a rebound," Mitsuo Shimizu, an equity strategist at Japan Asia Securities Group in Tokyo, told Bloomberg News.

"This OPEC meeting was unlike the previous ones and the selloff in oil prices has ended, that's also giving us reason to be optimistic."

- Dollar dips -

The Organization of the Petroleum Exporting Countries' failed to agree a deal to limit output at its latest twice-yearly meeting in Vienna, in line with expectations.

However, while crude prices initially fell on the news, they rebounded after official figures showed US reserves fell last week, fuelling hopes demand in the world's top economy is picking up.

In afternoon trade Brent was up 0.3 percent at $50.17 and West Texas Intermediate gained 0.2 percent to $49.25.

With US borrowing costs tipped to rise this summer, the dollar has managed to hold up, although fading hopes for any fresh Japanese stimulus continue to put weight behind the yen.

The greenback eased on Friday to 108.70 yen from 108.88 yen in New York, while the euro rose to $1.1160 from $1.1154.

"The environment is not bad for risk assets and I expect it to continue, but all the attention is now on the Fed rate hike," said Yusuke Kuwayama, a portfolio manager at Tokio Marine & Nichido Fire Insurance in Tokyo. 

"If the payrolls tonight are strong, we’ll see markets further price in a rate hike by pushing short-term yields higher and giving the dollar a bit of a boost."

- Key figures at 0700 GMT -

Tokyo - Nikkei 225: UP 0.5 percent at 16,642.23 (close)

Shanghai - Composite: UP 0.5 percent at 2,938.68 (close)

Hong Kong - Hang Seng: UP 0.4 percent at 20,951.44

Euro/dollar: UP at $1.1160 from $1.1154 on Thursday

Dollar/yen: DOWN at 108.70 yen from 108.88 yen

New York - Dow: UP 0.3 percent at 17,838.56 (close)

London - FTSE 100: DOWN 0.1 percent at 6,185.61 (close)

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asia stock markets rally after wall st gains us jobs eyed Arab Today, arab today asia stock markets rally after wall st gains us jobs eyed

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 06:44 2017 Sunday ,26 February

Doubts grow over American stock market’s surge

GMT 06:26 2017 Sunday ,26 February

Copper recovers lost ground

GMT 15:53 2017 Saturday ,25 February

Bahrain Bourse daily trading report

GMT 14:28 2017 Saturday ,25 February

Gold hits 3.5-month high

GMT 03:11 2017 Saturday ,25 February

50 Tunisian exhibitors at Gulfood 2017, Dubai

GMT 02:19 2017 Saturday ,25 February

SIEL expo, March 1-4

GMT 12:30 2017 Friday ,24 February

Norway's Telenor to leave Indian telecom market
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday